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precise_bookeepi
February 12, 2022
Question

Where does the HST paid that is captured on receipts go? Is it filtered into an account? Cant seem to find it

  • February 12, 2022
  • 3 replies
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3 replies

Nick K
February 14, 2022

Hi precise_bookeepi.

 

Knowing where your sales tax goes on purchases and sales is crucial to keep your books accurate and up to date. One of the great parts of QuickBooks Online is that it takes your HST from sales and purchases and automatically puts it into the right account. I'd be happy to go over what account your HST paid goes into.

 

When you enter a purchase or even scan a receipt your sales tax should all go into the same HST payable account. If it's not showing I recommend making sure that the amount wasn't all calculated as a purchase and the sales tax was separated. You can do this by pulling up the entry the scanned receipt made and verify it was for the correct amount. If it's not you'll need to delete it by selecting the drop down menu under the action section and select delete. Also make sure you're following the steps in this article on how to properly scan and upload receipts.

 

If you have any questions let us know and we'd be happy to help.

precise_bookeepiAuthor
February 15, 2022

Hi, i checked out a few receipts and it didnt separate the HST, so i have no HST payable account set up. Do i manually need to create an HST payable account, and recreate the transactions? I dont have alot so far this year, but want to make sure its captured correctly ongoing. 

Trish_T
February 15, 2022

Hi precise_bookeepi,

 

Thanks for reaching back out.  QuickBooks Online will automatically set up your accounts for you and ensure your transactions and applicable sales tax is recorded accurately.  I'll be happy to assist.

 

When you set up the sales tax feature, QuickBooks creates the associated accounts.  Follow the steps here.  I hope this helps!

 

Feel free to reach out anytime you have questions.  We'd love to help!

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